Dear All,
Please let me know what are the specfic cases where depreciation can be capitalised. Especially in Projects where there are other entities which are under operation under the same company.
Praveen (CA Final (new scheme)) (123 Points)
26 May 2011Dear All,
Please let me know what are the specfic cases where depreciation can be capitalised. Especially in Projects where there are other entities which are under operation under the same company.
CA NITUL MEHTA
(KPMG-Senior Consultant-International Tax )
(236 Points)
Replied 26 May 2011
THERE IS NO NORM OF CAPITALIZING DEPRECIATION YOU JUST DONT START DEPRECIATING ASSETS TILL THE WHOLE PROJECT STARTS AND ASSETS ARE READY TO BE USED.